Why Credit Matters

Your credit is a valuable resource. Good credit can help save you money on all sorts of purchases. From getting approved for a credit card to buying the home of your dreams, your credit plays a big role in achieving your financial goals. Monitoring your credit is a healthy habit that can aid in spotting early signs of identity theft and negotiating the best deals.

Your Personal Credit Score Has an Effect On:

  1. How much you pay for homeonwers and auto insurance
  2. Whether or not a landlord will rent to you and the rental terms
  3. How high your interest rate is on your home mortgage
  4. How high your interest rate is on auto or other loans
  5. The total amount of credit you can get from lenders
  6. Your chances of employment

When You’re On Top of Your Credit Information, You Can:

  1. Help protect your identity, giving you and your family peace of mind
  2. Help manage and protect the credit you’ve worked hard to earn
  3. Shop confidently online and in stores knowing that you’ve earned the best interest rates by carefully managing and monitoring your credit

Important Factors That Determine Your Credit Score:

  1. Whether you pay your bills on time or late
  2. How much you currently owe to all of your creditors
  3. How long you’ve had a credit history
  4. How much credit you have available
  5. How much of that available credit you are using
  6. How many recent inquiries have been made
  7. How much new credit you’ve received

What’s Included in a Credit Report:

  • Records of your bankruptcies, tax liens and monetary judgments against you, available from public sources.
  • Information about all your accounts, including loan amounts, current balances and payment patterns over the past several years.
  • The names of companies that have obtained a copy of your credit report.
  • Your name, current and previous addresses, phone number, Social Insurance Number, date of birth, and current and previous employers.
  • Disputes between you and your creditors, including both the creditor’s statement of the account, as well as your own.

Protect Yourself

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